18/06/2024
Mumbai, known as the financial capital of India, has maintained its position as the most expensive city for expatriates in the country, according to a report released on June 17. Following closely behind is Delhi, which has also seen an upward movement in the rankings.
In the latest '2024 Cost of Living Survey' by Mercer, Mumbai climbed six spots to become the 21st most expensive city for expatriates in Asia, while Delhi secured the 30th position among surveyed locations in the region.
Rahul Sharma, India Mobility Leader at Mercer, highlighted India's resilience amid global economic challenges. “In the face of global economic challenges, India has remained largely resilient,” he said.
The survey attributes the rise in living costs to factors such as employment growth, a burgeoning middle class, and overall economic expansion across the country.
“Despite Mumbai's rise in rankings, the overall affordability of Indian cities remains a key advantage for multinational organisations or Indian companies looking to attract global talent,” Sharma mentioned.
Globally, Hong Kong retains its status as the most expensive city to live in. Mumbai saw a notable climb of 11 places, now ranking 136th worldwide. Other Indian cities in the survey include New Delhi, which rose four spots to 164th place, Chennai dropping five places to 189th, Bengaluru declining six places to 195th, Hyderabad remaining stable at 202nd, Pune climbing eight spots to 205th, and Kolkata rising four spots to 207th.
The survey also highlighted Mumbai and Pune as the most expensive cities in terms of energy and utility costs.
“Our thriving economy, fuelled by domestic demand and a robust services sector, offers a stable environment for global talent,” said Mr Sharma.
